Solazyme Inc. (TVIA) Shares Up 6.6%

Solazyme Inc. (NASDAQ:TVIA)’s share price shot up 6.6% during trading on Tuesday . The stock traded as high as $2.63 and last traded at $2.60, with a volume of 584,886 shares traded. The stock had previously closed at $2.44.

The company’s market cap is $222.42 million. The company has a 50-day moving average of $2.45 and a 200 day moving average of $2.14.

Solazyme (NASDAQ:TVIA) last issued its earnings results on Monday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. During the same period last year, the business earned $0.40 EPS. The company had revenue of $9.90 million for the quarter, compared to analyst estimates of $10.85 million. The company’s quarterly revenue was down 15.4% on a year-over-year basis. Equities analysts forecast that Solazyme Inc. will post ($1.15) EPS for the current fiscal year.

In other news, CFO Tyler Painter sold 12,500 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $2.67, for a total transaction of $33,375.00. Following the transaction, the chief financial officer now owns 400,337 shares in the company, valued at approximately $1,068,899.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Solazyme, Inc creates renewable oils and bioproducts. The Company’s technology uses microalgae in an industrial fermentation process to transform a range of plant-based sugars into triglyceride oils and other bioproducts. The Company offers Algenist, a skin and personal care product available at Sephora SA and its affiliates, QVC, Inc, SpaceNK Limited, select Nordstrom stores and ULTA Beauty.